US Institutional Investors Flocking Back To Bitcoin – Is The Bottom In?

The Bitcoin price has seen a minor rally after yesterday’s speech by US Federal Reserve chairman Jerome Powell. The price rose above $17,000, driven by the statement that smaller rate hikes are likely imminent and could begin in December.
Ultimately, analysts see a 50 basis point hike in December almost a lock. The FED was merely trying not to make it look dovish, but it will come, was the tenor of the market.
On Wall Street, the remarks were met with applause. The Dow Jones and the S&